The Future Of Gold PDF Print E-mail
Written by Kathryn Smith   
Wednesday, 05 May 2010 14:15
Gold is a very rare metal and recent studies show that most of it has been already minted. So the one might ask "What is the future of gold?".
by KathrynSmith


Gold is a very rare metal and recent studies show that most of it has been already minted. So the one might ask "What is the future of gold?".

What we all have to take into consideration is the fact that most of the gold that has been minted up to this day is in the possession of Central Banks and private investors. Some research shows that the bars owned by individuals account for 236 tons of gold. Most of the yellow metal that has been minted up to this date is still being used in proportion of 85%. What this means is that in our jewelry there might be gold that has been used by the Incas or even by an Aztec King.

Seeing that there isn't so much gold left on Earth, scientists have started to look for it in the sky. In 1998, a NEAR spacecraft passed close by to the asteroid Eros and unveiled some important data. The potato - shaped rock contains about 3 % metal. Taking into consideration the size of the asteroid, NASA researchers have estimated that the rock must contain about 20 billion tons of gold and similar amounts of aluminum and palladium.

Prospectors have also started to create new and improved methods of detecting gold. With the help of these methods the chances of finding gold that has been overlooked in the past have greatly increased. Some gold deposits have already been discovered and the mining process has begun.

Mining companies will have to be more careful and more attentive with the environment than they were in the past. 250 tons of rock has to be removed when extracting a single ounce of gold. A big problem is also represented by the cyanide solution used for the extraction and refining procedures. But the companies that are using these questionable procedures will be soon alienated by jewelers.

This sort of problem will surely not stop the demand for gold. But perhaps it will make us think about our life, our heritage and our history.

DISCLAIMER: This article is provided as information only and is not to be taken as financial advice.

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